Possibilities to import crude oil from third countries open

KATHMANDU, MAR 21: 

Different government agencies today decided to look at the possibilities of importing crude oil from third countries during a meeting among the stakeholders organised by National Planning Commission (NPC) here in the capital.

NPC asked the Ministry of Foreign Affairs to direct the ambassadors of concerned Arabian countries to look at the possibilities of importing crude oil, said spokesperson at the Ministry of Commerce and Supplies Deepak Subedi. “Participants at the meeting agreed to carry out a study to import crude oil from third countries and refine it in India.”

Similarly, the meeting also suggested the government to look for options other than Indian Oil Corporation (IOC) only. “Nepal can import petroleum products from other Indian oil companies too,” Subedi quoted participants as saying. “The government should hold discussions with Bharat Petroleum, Hindustan Petroleum and other Indian oil companies.”

The meeting directed Nepal Oil Corporation to complete all preparatory work within three to four days, according to Subedi.

Participants also suggested NOC to sort out crucial issues like marketing margin, export parity price and price adjustment factor through a dialogue.

NPC organised the meeting today because the agreement on petroleum supply will end on April 1 and NOC and IOC are gearing to revise the agreement.

Source: THT